Can Fiscal Policy Improve Welfare in a Small Dependent Economy with Feedback Effects
AbstractI develop an intertemporal general equilibrium two-sector model for a small dependent economy. Firms in the non-tradable-good sector are assumed to be large, both at the industry and the economy levels, and to compete over quantities. The exchange rate is fixed and financial capital is perfectly mobile. I study the effects of government purchases of goods on the macroeconomic short- and long-run equilibria when entry is possible. Sufficient conditions for welfare improvement are also derived. Copyright 2001 by Blackwell Publishers Ltd and The Victoria University of Manchester
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Bibliographic InfoArticle provided by University of Manchester in its journal Manchester School.
Volume (Year): 69 (2001)
Issue (Month): 4 (September)
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- Luis F. Costa, . "Multipliers and Capital: What is the role of Imperfect Competition?," Discussion Papers 99/14, Department of Economics, University of York.
- Paulo Brito & Luís Costa & Huw Dixon, 2010.
"Non-Smooth Dynamics and Multiple Equilibria in a Cournt-Ramsey Model with Endogenous Markups,"
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- Luis F. Costa & Huw D. Dixon, 2007. "A Simple Business-Cycle Model with Schumpeterian Features," Money Macro and Finance (MMF) Research Group Conference 2006 105, Money Macro and Finance Research Group.
- Costa, Luís F. & Dixon, Huw, 2007. "A Simple Business-Cycle Model with Shumpeterian Features," Cardiff Economics Working Papers E2007/28, Cardiff University, Cardiff Business School, Economics Section.
- Luís F. Costa & Huw Dixon, 2009.
"Fiscal Policy under Imperfect Competition: A Survey,"
Working Papers Department of Economics
2009/25, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
- Costa, Luís F. & Dixon, Huw David, 2010. "Fiscal policy under imperfect competition: A survey," Economics Discussion Papers 2010-14, Kiel Institute for the World Economy.
- Luis F. Costa, 2000. "Multipliers and Imperfect Competition: What is the role of Capital Depreciation," Working Papers Department of Economics 2000/03, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
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